Meggitt plc (LON:MGGT) Receives Average Recommendation of “Hold” from Brokerages

Meggitt plc (LON:MGGT) has earned an average rating of “Hold” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is GBX 330.73 ($4.07).

MGGT has been the subject of a number of research reports. Citigroup restated a “buy” rating on shares of Meggitt in a report on Thursday, June 18th. Credit Suisse Group dropped their price objective on shares of Meggitt from GBX 270 ($3.32) to GBX 240 ($2.95) and set an “underperform” rating for the company in a report on Tuesday, May 5th. Goldman Sachs Group dropped their price objective on shares of Meggitt from GBX 342 ($4.21) to GBX 314 ($3.86) and set a “neutral” rating for the company in a report on Friday, June 12th. HSBC lifted their price objective on shares of Meggitt from GBX 300 ($3.69) to GBX 315 ($3.88) and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, UBS Group restated a “sell” rating and issued a GBX 241 ($2.97) price objective (down previously from GBX 379 ($4.66)) on shares of Meggitt in a report on Thursday, April 2nd.

Shares of MGGT traded up GBX 5.40 ($0.07) during trading on Tuesday, reaching GBX 300.80 ($3.70). 4,703,080 shares of the company traded hands, compared to its average volume of 3,380,000. Meggitt has a twelve month low of GBX 196.15 ($2.41) and a twelve month high of GBX 701.80 ($8.64). The stock has a market cap of $2.31 billion and a PE ratio of 10.63. The stock has a 50-day simple moving average of GBX 290.79 and a 200-day simple moving average of GBX 453.18. The company has a quick ratio of 0.67, a current ratio of 1.25 and a debt-to-equity ratio of 43.41.

In related news, insider Alison Goligher acquired 3,000 shares of Meggitt stock in a transaction dated Monday, June 29th. The stock was acquired at an average price of GBX 289 ($3.56) per share, for a total transaction of £8,670 ($10,669.46). Also, insider Guy Berruyer acquired 25,000 shares of Meggitt stock in a transaction dated Monday, April 6th. The shares were bought at an average price of GBX 251 ($3.09) per share, with a total value of £62,750 ($77,221.27). Insiders purchased 33,103 shares of company stock valued at $8,687,128 in the last quarter.

Meggitt Company Profile

Meggitt PLC designs and manufactures components and sub-systems for aerospace, defense, energy, medical, industrial, test, and automotive markets in the United Kingdom, rest of Europe, the United States, and internationally. It operates through Meggitt Aircraft Braking Systems, Meggitt Control Systems, Meggitt Polymers & Composites, Meggitt Sensing Systems, and Meggitt Equipment Group segments.

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Analyst Recommendations for Meggitt (LON:MGGT)

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